There is a high level of flexibility expected by modern businesses even if they are looking only for a recurring billing solution. Gone are the days when recurring billing meant charging the same amount to the customer periodically. With more complexity in terms of business, there are different requirements by the merchants to bill their clients differently.
There should be options available to facilitate both committed and uncommitted billing with present day recurring payment systems. In case a customer does not pay the dues by the due date, the services offered should be terminated automatically. Hence, the billing solution should also take into consideration the contractual terms and try for collection of the previously due amount.
Also, different payment schedules should be provided as an offering of a recurring billing system. There are different plans available such as fixed plans, pay as-you-go plans etc. Also, the bill might change based on the usage even in recurring billing plans. All of these options and flexibility must be offered by your recurring billing software for easing your business.
With a wide range of systems available, you should ensure that you have a flexible and robust payment system.
To learn more on what recurring billing is and how recurring payments can benefit your business, watch this: